Entrepreneurs: Entrepreneurs: Leaders In Change Leaders In Change

What is an Entrepreneur?What is an Entrepreneur?

An Entrepreneur is a person who An Entrepreneur is a person who organizes and manages a organizes and manages a business undertaking, assuming business undertaking, assuming the risk for the sake of profit. Any the risk for the sake of profit. Any person (any age) who starts and person (any age) who starts and operates a business is an operates a business is an entrepreneur.entrepreneur.

Characteristics of an Characteristics of an EntrepreneurEntrepreneur

Ability to deal with a series of tough Ability to deal with a series of tough issuesissues

Ability to create solutions and work to Ability to create solutions and work to perfect themperfect them

Can handle many tasks simultaneouslyCan handle many tasks simultaneously Resiliency in the face of set-backsResiliency in the face of set-backs

Characteristics Cont’dCharacteristics Cont’d

Willingness to work hard and not Willingness to work hard and not expect easy solutions expect easy solutions

Possess well-developed problem Possess well-developed problem solving skillssolving skills

Ability to learn and acquire the Ability to learn and acquire the necessary skills for the tasks at handnecessary skills for the tasks at hand

Three Aspects of Three Aspects of EntrepreneurshipEntrepreneurship

1. The identification/recognition of market 1. The identification/recognition of market opportunity and the generation of a opportunity and the generation of a business idea (product or service) to business idea (product or service) to address the opportunityaddress the opportunity

Three Aspects of Three Aspects of EntrepreneurshipEntrepreneurship

2. The marshalling and commitment of 2. The marshalling and commitment of resources in the face of risk to pursue the resources in the face of risk to pursue the opportunityopportunity

Three Aspects of Three Aspects of EntrepreneurshipEntrepreneurship

3. The creation of an operating business 3. The creation of an operating business organization to implement the organization to implement the opportunity-motivated business ideaopportunity-motivated business idea

Successful Successful CharacteristicsCharacteristics

Drive, which is defined as the most important Drive, which is defined as the most important attribute. Entrepreneurs can expect long hours, high attribute. Entrepreneurs can expect long hours, high stress and endless problems, as they launch a new stress and endless problems, as they launch a new business. business.

Thinking Ability, or the characteristic that Thinking Ability, or the characteristic that encompasses creativity, critical thinking, analytical encompasses creativity, critical thinking, analytical abilities and originality. abilities and originality.

Excel at Human Relations. Recognizes the Excel at Human Relations. Recognizes the importance of the ability to motivate employees, sell importance of the ability to motivate employees, sell customers, negotiate with suppliers and convince customers, negotiate with suppliers and convince lenders. lenders.

Successful Successful CharacteristicsCharacteristics

Communication Skills, or the ability to make Communication Skills, or the ability to make yourself understood.yourself understood.

Technical Ability speaks to the need of the Technical Ability speaks to the need of the entrepreneur to know their product and their entrepreneur to know their product and their market. They must consider the long- and short-market. They must consider the long- and short-term implications of their decisions, their term implications of their decisions, their strengths and weaknesses, and their strengths and weaknesses, and their competition. In short, they need strategic competition. In short, they need strategic management skills.management skills.

1. I don't like being told what to do by people who are less capable than I am.2. I like challenging myself.3. I like to win.4. I like being my own boss.5. I always look for new and better ways to do things.6. I like to question conventional wisdom.7. I like to get people together in order to get things done.8. People get excited by my ideas.9. I am rarely satisfied or complacent.10. I can't sit still.11. I can usually work my way out of a difficult situation.12. I would rather fail at my own thing than succeed at someone else's.13. Whenever there is a problem, I am ready to jump right in.14. I think old dogs can learn — even invent — new tricks.15. Members of my family run their own businesses.16. I have friends who run their own businesses.17. I worked after school and during vacations when I was growing up.18. I get an adrenaline rush from selling things.19. I am exhilarated by achieving results.20. I could have written a better test than this.

EntrepreneurshipEntrepreneurship

Some advantagesSome advantages You are your own bossYou are your own boss Enjoy the profits from you effortsEnjoy the profits from you efforts Sense of pride in your businessSense of pride in your business Flexibility in your work scheduleFlexibility in your work schedule

EntrepreneurshipEntrepreneurship

Some disadvantagesSome disadvantages Will need to put in long hoursWill need to put in long hours Need money to startNeed money to start Have to keep up with government rules and Have to keep up with government rules and

regulationsregulations May have to mark hard decisions (hiring, May have to mark hard decisions (hiring,

firing, etc.) firing, etc.) May lose moneyMay lose money

Competition is HealthyCompetition is Healthy

Competition is good for youCompetition is good for you -Validates and expands the market-Validates and expands the market - Generates market awareness of the need- Generates market awareness of the need - Makes buyers more secure- Makes buyers more secure Opportunity to convert their customersOpportunity to convert their customers Motivates your employees to work hard Motivates your employees to work hard

and improveand improve

Entrepreneurship Entrepreneurship U.S. ViewU.S. View

SBA reports that small businessSBA reports that small business

Represented over 99% of all employersRepresented over 99% of all employers

Provided 75% of ALL new jobsProvided 75% of ALL new jobs

Produced 55% of innovationsProduced 55% of innovations

(As of 2000)(As of 2000)

Colleges and UniversitiesColleges and Universities

With Entrepreneurship MajorsWith Entrepreneurship Majors

1970 - 161970 - 16

2000 – over 14002000 – over 1400

““E” Education E” Education In High SchoolsIn High Schools

Kauffman Foundation Gallop PollKauffman Foundation Gallop Poll

90% of H.S. students rate their “E” 90% of H.S. students rate their “E” Knowledge as very poor or fair.Knowledge as very poor or fair.

7 out of 10 students want to start a 7 out of 10 students want to start a businessbusiness

84% believe it is important for schools to 84% believe it is important for schools to teach Entrepreneurship!teach Entrepreneurship!

Tomorrow’s Tomorrow’s Entrepreneurs are in Entrepreneurs are in our schools TODAY!!our schools TODAY!!

You can either work for an You can either work for an entrepreneur or be an entrepreneur or be an entrepreneur.entrepreneur.

Which will it be?Which will it be?

**All information provided by BusinessWeek.com**All information provided by BusinessWeek.com

Admiral Zheng He Admiral Zheng He b. around 1371, d. 1433 b. around 1371, d. 1433

In seven voyages In seven voyages from 1405 to 1433, from 1405 to 1433, Zheng He spread Zheng He spread China's goods across China's goods across the world and the world and returned with returned with treasures for the treasures for the Ming Dynasty Ming Dynasty

Benjamin FranklinBenjamin Franklinb. 1706, d. 1790 b. 1706, d. 1790

A writer, publisher, A writer, publisher, inventor, politician inventor, politician and diplomat, he and diplomat, he always considered always considered himself a himself a businessman.businessman.

Mayer Amschel Mayer Amschel RothschildRothschildb. 1744, d. 1812 b. 1744, d. 1812

Rothschild's banking Rothschild's banking empire would stretch empire would stretch across Europe, across Europe, essentially becoming essentially becoming the world's first the world's first international bank international bank

John Jacob AstorJohn Jacob Astorb. 1763, d. 1848 b. 1763, d. 1848

Came to New York in Came to New York in poverty at age 20 and poverty at age 20 and built a near-monopoly in built a near-monopoly in the global fur trade. the global fur trade.

Astor poured his fur Astor poured his fur profits into New York profits into New York real estate; the income real estate; the income from the rents and the from the rents and the value of the land value of the land combined to make Astor combined to make Astor the wealthiest American the wealthiest American of his timeof his time

John RockefellerJohn Rockefellerb. 1839, d. 1937 b. 1839, d. 1937

Rockefeller started his Rockefeller started his first business selling first business selling grain and other goods grain and other goods before he was 20 .before he was 20 .

By buying out oil By buying out oil refineries around refineries around Cleveland and New York Cleveland and New York after the Civil War, after the Civil War, Rockefeller soon Rockefeller soon dominated the market dominated the market

Andrew CarnegieAndrew Carnegieb. 1835, d. 1919 b. 1835, d. 1919

The Scottish immigrant The Scottish immigrant and weaver's son built and weaver's son built a steel empire whose a steel empire whose mills churned out the mills churned out the railroads, ships, and railroads, ships, and structures of post-Civil structures of post-Civil War America—and War America—and created a fortune for created a fortune for himself in the process. himself in the process.

Estee LauderEstee Lauderb. 1907, d. 2004 b. 1907, d. 2004

In 1946, she founded the In 1946, she founded the company that bears her company that bears her name to sell makeup and name to sell makeup and perfume in high-end perfume in high-end department stores around department stores around the world the world

Lauder became a giant in Lauder became a giant in the nascent beauty industry the nascent beauty industry by making sure the quality by making sure the quality of her products exceeded of her products exceeded the expectations of her the expectations of her target market, namely target market, namely wealthy society women wealthy society women

George Washington George Washington CarverCarverb. 1864, d. 1943 b. 1864, d. 1943

Carver changed the Carver changed the South from being a South from being a one-crop land of one-crop land of cotton, to being cotton, to being multi-crop farmlands, multi-crop farmlands, with farmers having with farmers having hundreds of hundreds of profitable uses for profitable uses for their new cropstheir new crops

Henry FordHenry Fordb. 1863, d. 1947 b. 1863, d. 1947

Ford did not invent the Ford did not invent the automobile, but he automobile, but he made it affordable to the made it affordable to the middle class that he middle class that he helped create helped create

His manufacturing His manufacturing process created the process created the modern car industry, modern car industry, and with it, the car and with it, the car culture of the 20th culture of the 20th century century

Milton HersheyMilton Hersheyb. 1857, d. 1945 b. 1857, d. 1945

In 1905, Hershey In 1905, Hershey built the world's built the world's largest chocolate largest chocolate factory in factory in Pennsylvania Pennsylvania

Millions enjoy what Millions enjoy what once had been once had been reserved for the reserved for the wealthy. Selling "low-wealthy. Selling "low-cost luxury" became cost luxury" became a viable business a viable business model model

Harland “Colonel” SandersHarland “Colonel” Sandersb. 1890, d. 1980 b. 1890, d. 1980

Kentucky Fried Kentucky Fried Chicken, pioneered Chicken, pioneered by Colonel Harland by Colonel Harland Sanders, became Sanders, became one of the largest one of the largest quick service food quick service food service systems in service systems in the world the world

A billion "finger lickin' A billion "finger lickin' good" KFC dinners good" KFC dinners served annually in served annually in more than 80 more than 80 countries and countries and territories. territories.

Madam C.J. WalkerMadam C.J. Walkerb. 1867, d. 1919 b. 1867, d. 1919

Walker's line of hair-Walker's line of hair-and-beauty products and-beauty products geared toward blacks geared toward blacks tapped into a market tapped into a market ignored by other ignored by other businesses because businesses because of racism of racism

She set an example She set an example for generations of for generations of entrepreneurs in a entrepreneurs in a time when women time when women were still struggling were still struggling for voting rights for voting rights

Thomas EdisonThomas Edisonb. 1847, d. 1931 b. 1847, d. 1931

Edison's relentless Edison's relentless innovation made him the innovation made him the most prolific inventor of most prolific inventor of his time his time

Started as a telegraph Started as a telegraph operator but soon moved operator but soon moved on to refining that on to refining that technology and creating technology and creating others that would turn others that would turn the world on its head: a the world on its head: a device to turn power into device to turn power into light, a machine to light, a machine to record and play back record and play back sound sound

Ray KrocRay Krocb. 1902, d. 1984 b. 1902, d. 1984

Ray Kroc turned a Ray Kroc turned a California burger shack California burger shack into a brand whose golden into a brand whose golden arches span the globe arches span the globe

By investing in By investing in franchisees, Kroc drove franchisees, Kroc drove the inexorable growth of the inexorable growth of McDonald's and created McDonald's and created one of the most visible one of the most visible

brands in historybrands in history

Walt DisneyWalt Disneyb. 1901, d. 1966b. 1901, d. 1966

The first multimedia The first multimedia empire was built on empire was built on animation animation

He also founded He also founded Disneyland . Disneyland .

His company owns:His company owns: Buena Vista Pictures Buena Vista Pictures

Entertainment, ABC TV, Entertainment, ABC TV, ABC Family Channel, ABC Family Channel, and ESPN and ESPN

Earl GravesEarl Gravesb. 1935 b. 1935

Founded Black Founded Black Enterprise magazine in Enterprise magazine in 1970, a publication that 1970, a publication that recognized the recognized the expanding financial expanding financial power of the black power of the black community and helped community and helped spur its growthspur its growth

Boasts a paid circulation Boasts a paid circulation of half a million and has of half a million and has been profitable since its been profitable since its 10th issue 10th issue

Andy GroveAndy Groveb. 1936 b. 1936

He helped found Intel He helped found Intel and navigated the and navigated the company's shift from company's shift from making memory chips to making memory chips to microprocessors microprocessors

During his tenure as During his tenure as CEO from 1987 to 1998, CEO from 1987 to 1998, Intel grew at a rate of Intel grew at a rate of 30% annually 30% annually

W. K. KelloggW. K. Kelloggb. 1860, d. 1951 b. 1860, d. 1951

Kellogg's accidental Kellogg's accidental discovery, promoted with discovery, promoted with savvy marketing, savvy marketing, transformed the way transformed the way Americans eat breakfastAmericans eat breakfast

Kellogg grasped the idea Kellogg grasped the idea

that kids influence that kids influence buying decisions—buying decisions—galvanizing the brand's galvanizing the brand's success success

Martha StewartMartha Stewartb. 1941 b. 1941

Started a catering Started a catering business out of her business out of her Westport (Conn.) Westport (Conn.) home in 1976 home in 1976

Went on to expand Went on to expand into retail, publishing, into retail, publishing, television, and television, and merchandising merchandising

Bill GatesBill Gatesb. 1955 b. 1955

By linking his Microsoft By linking his Microsoft software to IBM's first software to IBM's first PCs, he dominated the PCs, he dominated the industry industry

He developed a two-He developed a two-prong strategy of prong strategy of expanding the market expanding the market while maintaining a while maintaining a strong hold on strong hold on competitorscompetitors

Jeff BezosJeff Bezosb. 1964 b. 1964

Founded Founded Amazon.com, in Amazon.com, in 1994 1994

Bezos pioneered Bezos pioneered techniques that have techniques that have become staples of become staples of online sales.online sales.

Michael DellMichael Dellb. 1965 b. 1965

Created a new model Created a new model for PC sales for PC sales

Cutting out the retail Cutting out the retail middleman and middleman and custom-building custom-building computers to suit computers to suit buyers' needs put buyers' needs put Dell at the front of Dell at the front of the class of PC the class of PC makersmakers

Oprah WinfreyOprah Winfreyb. 1954 b. 1954 Oprah Winfrey turned Oprah Winfrey turned

her name into one of the her name into one of the most successful and most successful and respected brands in the respected brands in the world world

Leveraged that fame into Leveraged that fame into other interests: other interests: magazines, Web sites, magazines, Web sites, film and television film and television production and Social production and Social Entrepreneurship. Entrepreneurship.

Richard BransonRichard Bransonb. 1950 b. 1950 Richard Branson turned, Richard Branson turned,

Virgin, the mail-order Virgin, the mail-order record shop he opened record shop he opened in 1970 into a label he in 1970 into a label he sold 22 years later for sold 22 years later for nearly $1 billionnearly $1 billion

Brand includes mobile-Brand includes mobile-phone service, bridal phone service, bridal gowns, credit cards, and gowns, credit cards, and life insurance. Virgin life insurance. Virgin Group encompasses Group encompasses 200 companies in 30 200 companies in 30 countries and boasted countries and boasted $7.2 billion in sales in $7.2 billion in sales in 2002 2002

Steve JobsSteve Jobsb. 1955 d. 2011b. 1955 d. 2011

The Apple co-The Apple co-founder combined founder combined simplicity with simplicity with innovation to emerge innovation to emerge from the Internet from the Internet boom as one of the boom as one of the lone tech companies lone tech companies that can butt heads that can butt heads with Microsoftwith Microsoft

Mark Zuckerburg, Dustin Mark Zuckerburg, Dustin Moskovitz, Eduardo Moskovitz, Eduardo Saverin, Chris HughesSaverin, Chris Hughes

Founders of Founders of FacebookFacebook

Started at Harvard, Started at Harvard, but decided to but decided to spread the program spread the program to other Ivy League to other Ivy League schools and then schools and then beyond.beyond.

Ralph LaurenRalph Laurenb. 1939 b. 1939

Like many successful Like many successful entrepreneurs, Lauren entrepreneurs, Lauren was selling lifestyle was selling lifestyle more than productmore than product

Lauren imagined a Lauren imagined a market for men's market for men's fashion as large as that fashion as large as that for womenfor women

Sam WaltonSam Waltonb. 1918, d. 1992 b. 1918, d. 1992

The man who built The man who built the world's largest the world's largest retailer on low prices: retailer on low prices: Wal-Mart Wal-Mart

Bought direct from Bought direct from manufacturers and manufacturers and made his stores as made his stores as efficient as possible, efficient as possible, sending the savings sending the savings back to consumers back to consumers

Chad Hurley, 29; Steve Chad Hurley, 29; Steve Chen, 28 & Jawed Karim, 27Chen, 28 & Jawed Karim, 27

Founders of YouTubeFounders of YouTube

Broadcasts 100 Broadcasts 100 million short videos million short videos daily on myriad daily on myriad subjectssubjects

Sold to Google Sold to Google

Pierre OmidyarPierre Omidyarb. 1967 b. 1967 Founder of EBay, Founder of EBay,

which made the which made the promise of the promise of the Internet a reality by Internet a reality by connecting far-flung connecting far-flung customers with the customers with the goods they wanted to goods they wanted to buy buy

Lee Brown, 23; Lucas Lee Brown, 23; Lucas Brown, 23 & Lin Miao, 20 Brown, 23 & Lin Miao, 20

Founded marketing Founded marketing firm Tatto while firm Tatto while students at Babson students at Babson College in 2005 with College in 2005 with a $100 investment a $100 investment

Revenues are $25 Revenues are $25 million for 2007 and million for 2007 and expected to grow to expected to grow to $50 million by 2008$50 million by 2008

Deborah Umunnabuike, 23; Deborah Umunnabuike, 23; Jessica Umunnabuike, 21 & Jessica Umunnabuike, 21 & Vincent Choi, 23Vincent Choi, 23

Sisters are co-founders Sisters are co-founders of Avant Gaudy, an of Avant Gaudy, an online vintage clothing online vintage clothing shopshop

Almost 26,000 visitors Almost 26,000 visitors from more than 30 from more than 30 countries to their websitecountries to their website

Recruited Hong Kong native Recruited Hong Kong native Vincent Choi to bring a global Vincent Choi to bring a global perspective to the business perspective to the business and better reach shoppers in and better reach shoppers in AsiaAsia

Mitch Cohen, 20Mitch Cohen, 20 Started his latest Started his latest

company, ClixConnect, company, ClixConnect, to help online retailers to help online retailers improve customer improve customer service on their Web service on their Web sites sites

Started his first business Started his first business when he was 16when he was 16

The six-employee The six-employee business, has landed business, has landed about 70 clients so far about 70 clients so far

Max Durovic, 24 Max Durovic, 24 & Michael Kenny, 23 & Michael Kenny, 23

This duo started their This duo started their own business, Aarrow own business, Aarrow Advertising, with $100Advertising, with $100

Employs 40 full-timers Employs 40 full-timers and 460 part-timers who and 460 part-timers who range between 16 and range between 16 and 25 years old 25 years old

Had $2.3 million in sales Had $2.3 million in sales in 2006 and projects in 2006 and projects $4.2 million this year $4.2 million this year

Gabriel Erbst, 24; Will Gabriel Erbst, 24; Will Geronimo, 25 & Dwight Lee, Geronimo, 25 & Dwight Lee, 24 24

Co-founders of Co-founders of TableXChange, an TableXChange, an online marketplace to online marketplace to buy and sell buy and sell restaurant restaurant reservations reservations

Expects the business Expects the business to be profitable by to be profitable by the end of 2007 the end of 2007

Eugene Fernandez, 24 & Eugene Fernandez, 24 & Richard Scalesse, 24 Richard Scalesse, 24

Founders of Unique Founders of Unique Squared, an audio Squared, an audio equipment online equipment online retail shopretail shop

Began in March, Began in March, 2007, with an initial 2007, with an initial investment of about investment of about $6,000 and is $6,000 and is already profitable already profitable

Ashutosh Gupta, 19Ashutosh Gupta, 19 Owner of Gupta Owner of Gupta

Financial ConsultingFinancial Consulting

Has clients with Has clients with revenues between revenues between $200,000 and $3.3 $200,000 and $3.3 million million

Estimates his Estimates his business will have business will have revenues between revenues between $150,000 and $150,000 and $300,000 this year$300,000 this year

Ben Keighran, 25 Ben Keighran, 25 Founder of Founder of

Bluepulse.com, where Bluepulse.com, where users can download a users can download a free application that free application that works on most Internet-works on most Internet-enabled phonesenabled phones

Downloaded by about 3 Downloaded by about 3 million people million people

Landed about $6 million Landed about $6 million in venture capitalin venture capital

Jake Kloberdanz, 24Jake Kloberdanz, 24 Launched Hope Wine, a Launched Hope Wine, a

winery that gives 50% of winery that gives 50% of the profits from sales of the profits from sales of its wines to charity its wines to charity

Hope Wine is available Hope Wine is available in about 100 locations in about 100 locations

Hope has donated Hope has donated $20,000 to charity since $20,000 to charity since launching, and he launching, and he estimates revenues of estimates revenues of $3 million to $5 million in $3 million to $5 million in 2008.2008.

Jasmine Lawrence, 16Jasmine Lawrence, 16 After a chemical hair After a chemical hair

relaxer caused almost all relaxer caused almost all of her hair to fall out, she of her hair to fall out, she decided to make her decided to make her ownown

After borrowing $2,000 After borrowing $2,000 from her parents, the from her parents, the high school junior high school junior launched her company, launched her company, Eden Body WorksEden Body Works

This year she expects to This year she expects to earn $100,000 in sales earn $100,000 in sales

Shawn Liu, 25 Shawn Liu, 25 Started bespoke clothing Started bespoke clothing

company Hillhouse company Hillhouse Tailors, which sells men's Tailors, which sells men's dress shirts made in dress shirts made in Shanghai to the U.S. Shanghai to the U.S. market that start at $65 market that start at $65

Through the company's Through the company's online store and revenue-online store and revenue-sharing agreements with sharing agreements with independent clothing independent clothing retailers, Liu estimates retailers, Liu estimates the company will have the company will have revenues of $1.2 million revenues of $1.2 million by 2009 by 2009

Amit Nar, 22 Amit Nar, 22 Founder of A Better Founder of A Better

Night’s Sleep, a Night’s Sleep, a center to test and center to test and treat sleep disorders treat sleep disorders such as apnea, such as apnea, insomnia, and insomnia, and narcolepsynarcolepsy

Expects revenues of Expects revenues of around $500,000 in around $500,000 in 2008 2008

Polina Raygorodskaya, 21 Polina Raygorodskaya, 21

Owner of a fashion Owner of a fashion production services production services business, Polina business, Polina FashionFashion

Has already Has already produced about 50 produced about 50 events, with price events, with price tags of $2,000 to tags of $2,000 to $15,000 per event $15,000 per event

Ashley Reed, 21 Ashley Reed, 21

Started ASR Started ASR Clothing, a line of Clothing, a line of streetwear hoodies, streetwear hoodies, jeans, and T-shirts jeans, and T-shirts

Her five-employee Her five-employee business has been business has been featured in featured in newspapers and newspapers and magazines magazines

Sarah Schupp, 25 Sarah Schupp, 25 Founder of University Founder of University

Parent Media which Parent Media which produces produces visitor/information visitor/information guides for parents of guides for parents of college studentscollege students

Expects around Expects around $800,000 in $800,000 in revenuesrevenues

Rishi Shah, 25 Rishi Shah, 25 Created three-employee Created three-employee

Flying Cart to give small-Flying Cart to give small-business owners a way business owners a way to sell their products to sell their products online online

Estimates the business, Estimates the business, which now has more which now has more than 1,000 shops, will be than 1,000 shops, will be profitable by the spring profitable by the spring of 2008.of 2008.

Bryan Sims, 24Bryan Sims, 24

Founder of Brass Founder of Brass Media, a magazine Media, a magazine with a mission to with a mission to make money make money relevant to young relevant to young people people

Magazine now has Magazine now has about 450,000 about 450,000 readers readers

Nathaniel Stevens, 24 Nathaniel Stevens, 24 Started Yodle, an advertising Started Yodle, an advertising

services company that serves services company that serves local businesses that lack the local businesses that lack the time or expertise to advertise time or expertise to advertise onlineonline

Expects to have Expects to have approximately 1,000 approximately 1,000 customers by end of the year customers by end of the year

Received venture funding in Received venture funding in November, 2006, and plans to November, 2006, and plans to open six to eight additional open six to eight additional offices around the country offices around the country within the next 12 monthswithin the next 12 months

Alex Tchekmeian, 21 Alex Tchekmeian, 21 Owner of AKT Owner of AKT

Enterprises, which Enterprises, which consists of 15 consists of 15 businesses that revolve businesses that revolve around the music around the music industry and include industry and include merchandising, Web merchandising, Web development, and online development, and online ticketing services ticketing services

The business had $1.3 The business had $1.3 million revenues in 2006 million revenues in 2006 and estimates it will earn and estimates it will earn just over $3 million in just over $3 million in 2007 2007

Sam Altman, 22 Sam Altman, 22 & Nick Sivo, 22& Nick Sivo, 22

Started Loopt, a Started Loopt, a customized mapping customized mapping software for GPS-software for GPS-enabled phones that enabled phones that allows users to locate allows users to locate friends on a map via cell friends on a map via cell phone or Web site phone or Web site

The 35-employee The 35-employee company has received company has received $5 million in venture $5 million in venture funding funding

Ubong Attah, 23 Ubong Attah, 23

Owner of Owner of Studio10Fourteen, a Studio10Fourteen, a Web design firm & Web design firm & Prolete Medical Prolete Medical BillingBilling

Expects Prolete to Expects Prolete to have revenues of have revenues of around $4 million in around $4 million in 2008 2008

John RicoJohn Rico

President of Rico Enterprises, a company President of Rico Enterprises, a company specializing in sales, service, consulting, specializing in sales, service, consulting, project design,  management and project design,  management and installation installation

In business for 22 yearsIn business for 22 years

Nicki AndersonNicki Anderson

President/Owner of President/Owner of Reality Fitness, an Reality Fitness, an award-winning award-winning personal training personal training studiostudio

In business since In business since 19931993

Published author, Published author, columnist and fitness columnist and fitness professional professional